Proposals to overhaul the law to make it easier to prosecute companies and hold them to account for committing crimes have been put forward to the UK government by the independent agency that reviews legislation.

The Law Commission submitted on Friday several possible options to reform the laws governing corporate criminal liability in England and Wales, including widening the scope for attributing criminal liability.

It follows widespread concern from the Serious Fraud Office and wider legal profession that the law has been falling short in adequately holding corporations to account, particularly for economic crimes such as fraud. The government asked the commission last year to present options for reform and ministers must now decide whether to implement any of those, which may need primary legislation.